Three prominent oil marketers—AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited—have urged the Federal High Court in Abuja to reject Dangote Refinery's bid to secure monopoly rights in Nigeria’s petroleum industry. They argue that granting such exclusivity would have severe repercussions, undermining competition, driving up prices, and deepening the country’s economic crisis.
This opposition follows a lawsuit by Dangote Refinery seeking to block the issuance of import licenses to these companies, contending that its refinery can meet Nigeria's fuel demand. Dangote's legal team claims that the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) breached the Petroleum Industry Act by authorizing imports while Dangote's production remains stable.
The marketers countered, claiming Dangote’s proposal would harm Nigeria’s energy security. They argued that if Dangote gains monopoly rights and experiences any supply chain issues, the nation would lack sufficient reserves to compensate, risking severe shortages. Additionally, the defendants noted that their licenses align with the Petroleum Industry Act and consumer protection laws, insisting their imports do not disrupt Dangote’s operations.
Justice Inyang Ekwo adjourned the case to January 20, 2025, to allow the parties to consider an out-of-court resolution, with Dangote indicating openness to discussions.
